Many sectional title schemes are nearing the end of their financial year (from 1 March to the last day of February) which means budgets need to be analysed very carefully for the year ahead. The increase in levies, over and above the new requirements set out in the

Sectional title owners could see their levy costs increase by 15% per year for the next few years. This is due to last week’s gazetted Sectional Titles Schemes Management Act requiring schemes to have a reserve fund equal to at least 25% of the scheme’s